BANGKOK, 27 April 2019 (NNT) – The effort of the Small and Medium Enterprise Development Bank of Thailand (SME D Bank) to promote Thai processed agricultural products to markets in China succeeded further when a Chinese company decided recently to pilot the purchase of 16,000 tons of Thai processed fruit products, which will generate more than two billion baht in total for farmers on small land holdings.
The signing of a memorandum of understanding between Tai Hua Chue Group Company Limited which is operated by a Thai entrepreneur, and Shenzhen Song Thong Modern Supply Chain Management Company Limited from the People’s Republic of China, is aimed at purchasing Thai processed agricultural products for distribution in the Chinese market.
Mr. Phongchan Samphaongoen, Deputy Managing Director and Acting Managing Director of SME D Bank, noted the success of the SME D Bank Business Matching project that brought Thai SME entrepreneurs to attend a business matching event directly with Chinese buyers in Guangzho county, Guangdong province last year, and they were able to agree to enter into a mutual purchase agreement.
Shenzhen Company will purchase 16,000 tons of Thai fruit products especially durians, mangoes and cashew nuts from Tai Hua Chue Group for eight years which will help generate more than two billion baht in total for small farmers.
The bank has also established a fund to be used to sport the “Loans for Upgrading the Community Economy” project which offers special interest rates and installments for up to seven years. The individuals have to pay an interest rate of only 0.42 percent per month in the first three years.
Thai SME entrepreneurs who wish to sell their products in the Chinese market are advised to consider trademark registration, brand building to prevent their products from being copied and copyright infringement, along with the creation of a product standard in accordance with Chinese conditions, and developing attractive packaging of a size that appeals to local consumers.
Ministry of Commerce pushes for exports to offset trade war aftermath
The Board of Trade of Thailand’s Chairman has proposed temporary border trading points be upgraded to permanent ones and more centers for the distribution of SME goods be opened
Fruit farmers coping with oversupply and price slumps
Thai Government vows to help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce said.
BANGKOK, August 2019 (NNT) – To help fruit farmers, following the problem of product oversupply and price slumps, the Ministry of Commerce has recently used Section 44, of the interim constitution, to engage government and private agencies in assisting them in terms of marketing to help sell the produce, including mangosteens, Lansium demesticum, rambutans, longans and other seasonal fruit.(more…)
Thailand’s Drought disaster estimated 10bn baht ($326M)
The overall damage is expected to escalate to 37 billion baht should the drought extends to September, as the wet season rice cultivation cycle would be affected; that would lower expected Thai economic growth to 2.9 percent from 3 percent.
BANGKOK, 3rd August 2019 (NNT) – The latest estimate from the University of Thai Chambers of Commerce (UTCC) shows the drought disaster this year has affected some 1,330 square kilometers of farmland, most of which is rice farms, with initial damage estimated at about 10 billion baht.(more…)
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